Manipal Health Enterprises IPO

Manipal Health Enterprises IPO Details

Manipal Health Enterprises IPO is a 100% book-built issue, comprising a fresh issue of ₹8,000 crore and an offer for sale (OFS) of 4.32 crore equity shares, with the face value of ₹2 per share. The company filed its DRHP with SEBI on March 23, 2026.

The price band and official dates of subscription and listing will be announced by the company later, but the shares are supposed to be listed on the BSE and the NSE platforms. The book-running lead managers of the issue are Kotak Mahindra Capital Company Ltd., Axis Capital Ltd., Goldman Sachs (India) Securities Private Ltd., Jefferies India Private Ltd., J.P. Morgan India Private Ltd., UBS Securities India Private Ltd. and DBS Bank India Ltd., while the registrar to the issue is KFin Technologies Ltd.

Manipal Health Enterprises IPO Date & Timeline

Manipal Health Enterprises Ltd. officially filed its Draft Red Herring Prospectus (DRHP) on March 23, 2026. However, the specific Manipal Health Enterprises IPO date and subscription timeline remain unannounced. Following regulatory approval, the company will finalize the price band and bidding dates. Once cleared, the schedule for anchor allotment, public bidding and the final listing on the exchange will be formally disclosed.

Manipal Health Enterprises IPO GMP (Grey Market Premium)

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The Manipal Health Enterprises IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Manipal Health Enterprises Ltd. was incorporated in Bengaluru as a private limited company on February 15, 2010, but the first facility of Manipal Hospitals commenced in 1991, with the vision of providing advanced and accessible healthcare, starting as a single hospital and gradually growing into a large healthcare group.

Its core business today focuses on operating and managing a wide network of multispecialty and super-speciality hospitals, with its headquarters in Bengaluru, Karnataka. Over time, it has expanded across India and now stands as the largest pan-India multispecialty hospital network by bed capacity, serving both metro and non-metro regions across multiple states and union territories.

Operations & Product Range

The Manipal Health Enterprises Ltd. has a fully integrated health care system that covers all aspects, ranging from general health care services to more complex tertiary and quaternary services. Its main areas of expertise involve specialised clinical services in areas like Cardiac, Oncology, Neuro, Gastro, Ortho, and Renal sciences. This organisation caters not only to local patients but also to international patients who come to India for specialised treatment.

Facilities & Capacity

Manipal Health Enterprises Ltd. runs a large healthcare network of 48 hospitals across 14 states and union territories, with 10,761 licensed beds and over 12,600 beds supported by advanced medical technology and a workforce of more than 11,000 doctors and 20,000+ employees. It continues to focus on optimising operations and integrating acquisitions to standardise patient care across all facilities.

Brands & Market Presence

Manipal Health Enterprises Ltd. functions under the “Manipal Hospitals” brand name and is one of the reliable health care providers in India, having a prominent presence across the country, particularly in Karnataka, expanding further into the western and eastern parts of India through acquisitions such as Sahyadri Hospitals and Medica Synergie. Its brand enjoys various national and international accreditations.

Revenue Streams & Business Model

The primary source of income for Manipal Health Enterprises Ltd. comes from its healthcare operations, which include inpatient and outpatient services, as well as specialized surgeries, with a considerable portion generated from tertiary and quaternary care services. Even though the company works throughout India, its revenue is highly dependent on its operations in Karnataka. During Q2 FY26, Manipal Health Enterprises Ltd. earned an operating revenue of ₹4,809.35 crore and PAT of ₹571.8 crore.

Management & Shareholding

Manipal Health Enterprises Ltd. is led by promoters including Dr. Ranjan Ramdas Pai and several Manipal and associated investment entities, along with institutional investors, all with strong healthcare and education experience. Before the IPO, the promoters held above 90% stake in the company, but after the IPO, the promoters' shareholding will be diluted as the offering includes 4.32 crore equity shares by existing shareholders.

Board & Key Management

The leadership of Manipal Health Enterprises Ltd. is led by a team of experts with many years of experience. Dr. Hebri Sudarshan Ballal serves as the Chairman and gives strategic direction to the firm. The daily operations are managed by Dilip Jose Puthiyidathu, the Managing Director, along with Whole-Time Directors. To ensure good governance, the board includes Independent Directors for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.